A new world record was set in London At the latest RM Auctions event held on October 29 when a beautiful and rare British-made 1997 McLaren F1 supercar sold for $4 million.

One of only 75 examples made, the car on offer more than doubled its pre-sale estimate to the astonishment of observers who conjectured world economic factors might dampen biddersâ€™ enthusiasm.

One of the first carbon fiber-bodied production cars, the F1 was the fastest street legal production car in the world for over a decade, the longest period the record has been held by any street legal or production car in the history of automobiles.

The McLaren F1 is powered by a 6.1-litre four overhead camshaft, 48-valve V12 engine that outputs 627bhp and is coupled with a six-speed manual gearbox.

The F1 on offer (above) was the original Park Lane showroom model in pristine condition, and originally sold for $1 million. This particular example has a Magnesium Silver paint finish with a black leather interior. It had 484 kilometers (270 miles) on the clock and was reportedly the last new F1 built.

Meanwhile, McLaren recently announced plans to debut a new version of the F1 in 2010, dubbed the P11, but it is expected to cost less than the original.